BNP Paribas Arbitrage SA Purchases 1,521,440 Shares of Apple Inc. (AAPL)
BNP Paribas Arbitrage SA increased its stake in shares of Apple Inc. (NASDAQ:AAPL) by 34.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,887,600 shares of the iPhone maker’s stock after buying an additional 1,521,440 shares during the period. Apple comprises 2.5% of BNP Paribas Arbitrage SA’s portfolio, making the stock its 5th largest position. BNP Paribas Arbitrage SA owned approximately 0.11% of Apple worth $562,855,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Hutchinson Capital Management CA bought a new position in shares of Apple during the first quarter valued at about $229,000. Acrospire Investment Management LLC bought a new position in shares of Apple during the first quarter valued at about $240,000. Ironwood Financial llc bought a new position in shares of Apple during the first quarter valued at about $282,000. Sadoff Investment Management LLC boosted its position in shares of Apple by 6.8% in the first quarter. Sadoff Investment Management LLC now owns 2,677 shares of the iPhone maker’s stock valued at $292,000 after buying an additional 171 shares during the period. Finally, Retirement Capital Strategies bought a new position in shares of Apple during the first quarter valued at about $372,000. 56.46% of the stock is owned by institutional investors and hedge funds.
Shares of Apple Inc. (NASDAQ:AAPL) traded up 0.78% on Friday, reaching $113.05. 36,379,106 shares of the company’s stock were exchanged. Apple Inc. has a 52-week low of $89.47 and a 52-week high of $123.82. The company’s 50 day moving average price is $109.76 and its 200-day moving average price is $102.97. The stock has a market cap of $609.16 billion, a P/E ratio of 13.18 and a beta of 1.14.
Apple (NASDAQ:AAPL) last issued its quarterly earnings data on Tuesday, July 26th. The iPhone maker reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.04. The business earned $42.36 billion during the quarter, compared to analyst estimates of $42.35 billion. Apple had a net margin of 21.70% and a return on equity of 37.89%. The firm’s quarterly revenue was down 14.6% on a year-over-year basis. During the same quarter last year, the business earned $1.85 EPS. Equities analysts forecast that Apple Inc. will post $8.26 EPS for the current fiscal year.
Several brokerages have recently issued reports on AAPL. Raymond James Financial Inc. reissued a “hold” rating on shares of Apple in a report on Saturday, July 9th. Barclays PLC reissued a “buy” rating on shares of Apple in a report on Sunday, July 17th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $150.00 price target on shares of Apple in a report on Sunday, July 17th. Brean Capital reaffirmed a “buy” rating and issued a $125.00 price target on shares of Apple in a report on Wednesday, June 15th. Finally, RBC Capital Markets reaffirmed an “outperform” rating and issued a $117.00 price target (up previously from $115.00) on shares of Apple in a report on Thursday, August 11th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating, forty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Apple presently has an average rating of “Buy” and an average price target of $126.13.
In other Apple news, SVP Angela J. Ahrendts sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $100.00, for a total transaction of $2,500,000.00. Following the completion of the transaction, the senior vice president now owns 105,839 shares in the company, valued at approximately $10,583,900. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Daniel J. Riccio sold 22,381 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $113.06, for a total transaction of $2,530,395.86. Following the transaction, the insider now owns 47,043 shares of the company’s stock, valued at approximately $5,318,681.58. The disclosure for this sale can be found here. Company insiders own 0.08% of the company’s stock.
Apple Company Profile
Apple Inc (Apple) designs, manufactures and markets mobile communication and media devices, personal computers, and portable digital music players, and a variety of related software, services, peripherals, networking solutions, and third-party digital content and applications. The Company’s products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and OS X operating systems, iCloud, and a variety of accessory, service and support offerings.
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